Ratings

Best Places AXIS and Subs Ratings under Review w/ Negative Implications

A.M. Best has placed under review with negative implications the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-” of AXIS Specialty Limited and its operating affiliates. Best also put the ICR of “a-” …

Best Assigns Ratings to Zurich’s Irish Subsidiary, ZIP

A.M. Best has assigned the financial strength rating of ‘A+’ (Superior) and an issuer credit rating (ICR) of “aa-” to Zurich Insurance plc (ZIP), which is based in Ireland, and is a “key operating subsidiary of Zurich Insurance Group Ltd …

Proposed XL Acquisition of Catlin Gets Review From Rating Agencies

A.M. Best and Standard & Poor’s have weighed in with their comments about XL Group’s announced agreement to acquire Catlin Group Ltd. for $4.1 billion in cash and stock. A.M. Best placed the financial strength rating of XL Group and …

No Ratings Impact from UK’s Counter-Terrorism/Security Bill: A.M. Best

A bulletin from A.M. Best indicates that it “does not expect rated insurers to be impacted by the amendments to the UK’s Counter-Terrorism and Security Bill, making it illegal for insurers to reimburse ransom payments made to terrorist organizations.” The changes …

A.M. Best Affirms Ratings of Munich Re and Subsidiaries

A.M. Best has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company (Munich Re) (Germany) and its subsidiaries. Concurrently, A.M. Best has affirmed all debt ratings of Munich …

A.M. Best Assigns A- (Excellent) Rating to Kelvin Re in Guernsey

A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Kelvin Re Limited (Guernsey). The outlook assigned to both ratings is stable. The ratings reflect Kelvin Re’s strong capitalization, diversified projected business profile within …

Litmus Analysis on S&P’s Decision to Withdraw ‘Public Information’ Ratings

A report from London-based Litmus Analysis examines the decision by Standard & Poor’s to withdraw “its entire North American and EMEA ‘pi’ (public information based) insurance ratings. This amounted to 38 ratings withdrawals in EMEA and 131 in America.” Litmus …

A.M. Best Upgrades Ratings of Mapfre Panamá

A.M. Best upgraded the financial strength rating to A (Excellent) from A- (Excellent) and the issuer credit rating to “a” from “a-” of Mapfre Panamá S.A., Panama City, Panama. The outlook for both ratings is stable. The upgrade of the ratings …

A.M. Best Upgrades Ratings for Reaseguradora Patria

A.M. Best has upgraded the financial strength rating to A from A- (Excellent) and issuer credit rating (ICR) to “a” from “a-” of Reaseguradora Patria, S.A. (Patria Re) (Mexico). The outlook for these ratings was revised to stable from positive. Concurrently, …

Best Upgrades Ratings of Taiping Reinsurance

A.M. Best has upgraded the financial strength rating to A (Excellent) from A- (Excellent) and the issuer credit rating to “a” from “a-” of Taiping Reinsurance Company Limited (TPRe) (Hong Kong). The outlook for both ratings is stable. The ratings …

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